What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
US CPI m/m
|CPI is an indicator of consumer inflation. If it exceeds the forecast, the USD will rise. The Federal Reserve is anticipated to raise the interest rate at least 3 times this year. The higher the CPI is, the greater the chance of 4 rate hikes will be. Check the economic calendar at 15:30 MT time on April 11 to find out if the CPI encourages Fed’s rate hikes and the stronger US dollar.|
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!
The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
What events to follow and how to trade during the week of July 2-6?
EUR/USD retraced to 1.1870 after breaking out this level. It should be just a natural sell-off ahead of the further rally up.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!